Integral SIZE is a DeFi primitive providing infrastructure for large OTC orders. It allows traders to execute token swaps a t 30-minute time-weighted-average price (TWAP) with zero price impact relative to price oracles provided by DEXes such as Sushi. In fact, Integral SIZE’s CVX-ETH pool is currently using price oracle data from the CVX-ETH pool on Sushi!
We would like to highlight the following areas for collaboration.
Trading on Integral SIZE. Sushi’s operations, treasury multisig, and community can trade USDC, ETH, CVX, and more tokens (in the near future) on Integral SIZE with zero price impact.
Listing SUSHI-ETH on Integral SIZE with the pool partially seeded by Sushi to allow large SUSHI transactions with zero price impact.
Adding a button on Sushi swap interface to allow traders with large orders to consider integral SIZE as an OTC venue (relying on Sushi price oracle and revenue sharing with Sushi treasury).
We propose three areas for potential collaboration between integral SIZE and Sushi. Here are the details for each.
- Trading on Integral SIZE.
When Trading on large quantities, Sushi’s operations, treasury multisig, and community can save on fees and price impact by trading OTC-style on Integral SIZE with zero price impact.
Price impact saving. Integral SIZE currently offers execution of USDC <> ETH and CVX <> ETH at 30 minute TWAP with zero price impact based on price oracles from Sushi.
Fee saving. Use CVX-ETH transactions as an example below. The fee saving is less extreme for USDC-ETH swaps.
-1 bp on Integral SIZE
-30 bps on SushiSwap
-1% on Uniswap v3
In a live trade, someone sold ~$424k worth of CVX to ETH on SIZE, saving about 48bps ($2,049).
- Listing SUSHI-ETH on Integral SIZE.
People who want to transact SUSH tokens, especially in large quantities, would benefit from zero price impact trading on Integral SIZE.
The execution will be done at 30-min TWAP based on the price oracle from the SUSHI-ETH pool on SushiSwap.
Currently, a 10 ETH swap to SUSHI on SushiSwap would have a price impact of 47 bps. A 100 ETH swap to SUSHI on SushiSwap would have a price impact of 202 bps.
- Adding a button on Sushi’s swap interface.
- By adding a button (and the option) to route individual orders of large magnitude to Integral SIZE, Sushi, as a platform, would be able to prived the added benefit of zero price impact to its users. As a result, this would help Sushi better serve large traders and strengthen its position as a comprehensive DeFi platform for trading, farming, lending, launching, etc.
Further, Sushis operations, treasury multisig, and community can interact with Integral SIZE within Gnosis Safe App Details here.
More about Integral SIZE
Integral SIZE is a decentralized excchange built for large trades of ERC-20 tokens. It allows trades to be executed at 30-minute TWAP with zero price impact (Announcement, white paper).
For Traders: Zero price impact of large trades (including less liquid tokens).
For LPs: passive accrual of yield while achieving mean zero IL.
Rely on an external price oracle (such as SushiSwap) for price discovery over time.
Latest Blog: Myth or Reality: Zero Price Impact Trading in DeFi
Documentation: Integral SIZE - Integral SIZE
Integral lists a SUSHI-ETH pool on SIZE to allow large sushi transactions with 0 price impact. Add a button on Sushiswap interface to allow traders with large orders to facilitate SIZE as an OTC venue (relying on Sushi price oracle and revenue sharing with Sushi Treasury)
I like things as they are.
- FOR: This looks interesting. Lets explore more.
- AGAINST: I like things as they are.